| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 47th | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1356 Norwalk St, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 2007 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1356 Norwalk St Greensboro Multifamily Investment
According to WDSuite’s CRE market data, neighborhood occupancy trends sit near the metro middle while renter concentration is high, supporting steady leasing for this 2007-built, 26-unit asset in Greensboro’s inner suburb.
The property sits in an Inner Suburb pocket of Greensboro rated B+ among 245 metro neighborhoods, indicating generally investable fundamentals with some variability by block. Neighborhood occupancy is around the national midpoint, which suggests typical leasing velocity rather than outsized tightness, and the local rent-to-income profile signals manageable affordability that can support retention rather than frequent turnover, based on CRE market data from WDSuite.
Amenity access is mixed: grocery options are comparatively convenient (ranked 38 of 245 metro neighborhoods; competitive for the market), and cafes are relatively dense (ranked 18 of 245), while parks and pharmacies are limited within the immediate neighborhood. For investors, this combination often supports day‑to‑day convenience for renters without the pricing premium associated with the most amenity‑rich urban cores.
Tenure patterns point to depth in the tenant base: the neighborhood shows a very high share of renter‑occupied housing units (top end of the metro distribution), which typically underpins multifamily demand and helps stabilize occupancy through cycles. The building’s 2007 construction is newer than the neighborhood’s average vintage (1981), positioning it competitively versus older stock while still leaving room for targeted modernization and systems updates over a hold period.
Within a 3‑mile radius, household counts have increased and are projected to continue growing, with modest population growth alongside a slight downshift in average household size. This trend supports a larger renter pool over time and can aid leasing stability. Forecast gains in household incomes within three miles further reinforce the area’s ability to absorb rent increases where supported by product quality and management execution.
Safety indicators are mixed when viewed against regional and national context. The neighborhood sits below the metro average for safety (crime rank 91 out of 245 Greensboro‑High Point neighborhoods), and national comparison points to below‑median safety levels. However, recent trends show meaningful improvement, with estimated violent and property offenses declining year over year, according to WDSuite’s CRE market data.
For investors, the takeaway is to underwrite conservatively and focus on property‑level controls and resident experience, while noting the improving trajectory. Comparative performance may continue to vary by block, so on‑site diligence and daypart observations remain important.
Proximity to regional headquarters anchors a diversified employment base that supports renter demand and commute convenience for workforce and professional tenants, including VF, Reynolds American, BB&T Corp., Laboratory Corp. of America, and Hanesbrands.
- VF — apparel (6.1 miles) — HQ
- Reynolds American — tobacco (21.5 miles) — HQ
- BB&T Corp. — banking (21.6 miles) — HQ
- Laboratory Corp. of America — diagnostics (24.0 miles) — HQ
- Hanesbrands — apparel (24.3 miles) — HQ
1356 Norwalk St offers a 2007 vintage in an Inner Suburb neighborhood where renter concentration is exceptionally high and occupancy sits near the metro middle, pointing to reliable demand with room for operational upside. The asset’s newer construction versus the neighborhood average (1981) provides a competitive edge over older comparables while still leaving scope for selective value‑add improvements to drive rents and retention.
Within a 3‑mile radius, household growth and rising incomes expand the tenant base and support lease stability over time; forecasts indicate continued population growth and higher median incomes, which can sustain rent growth when paired with product quality and management. According to CRE market data from WDSuite, amenity access is adequate for daily needs, and recent safety trends show improvement—factors that, combined with diversified nearby employers, reinforce the long‑term multifamily thesis while warranting prudent underwriting.
- Newer 2007 construction versus older neighborhood stock supports competitive positioning
- Very high neighborhood share of renter‑occupied units indicates depth of tenant demand
- 3‑mile household and income growth underpin occupancy stability and rent capability
- Employer proximity (regional HQs) supports leasing and retention across workforces
- Risks: below‑median safety by national comparison and limited parks/pharmacies; underwrite with conservative assumptions